International Paper (NYSE:IP) Price Target Lowered to $46.00 at JPMorgan Chase & Co.

International Paper (NYSE:IP) had its target price cut by analysts at JPMorgan Chase & Co. from $48.00 to $46.00 in a research note issued to investors on Thursday,MarketScreener reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 33.69% from the company’s current price.

IP has been the topic of a number of other research reports. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a research note on Friday, March 13th. Stifel Nicolaus reduced their target price on International Paper from $51.80 to $50.70 and set a “buy” rating for the company in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft began coverage on shares of International Paper in a research report on Wednesday. They set a “hold” rating and a $38.00 price objective for the company. BNP Paribas Exane reduced their price objective on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Finally, Argus cut their price target on shares of International Paper from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.89.

International Paper Stock Performance

NYSE:IP opened at $34.41 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60. International Paper has a 1 year low of $33.57 and a 1 year high of $56.13. The firm’s fifty day simple moving average is $41.47 and its 200 day simple moving average is $41.74. The firm has a market capitalization of $18.22 billion, a PE ratio of -5.09 and a beta of 1.09.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 29th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.36). The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.90 billion. International Paper had a negative return on equity of 0.35% and a negative net margin of 14.12%.International Paper’s quarterly revenue was up 53.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.02) EPS. On average, sell-side analysts anticipate that International Paper will post 2.77 EPS for the current year.

Insider Activity at International Paper

In related news, Director Anders Gustafsson purchased 13,217 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was purchased at an average cost of $37.83 per share, with a total value of $499,999.11. Following the completion of the acquisition, the director directly owned 26,092 shares of the company’s stock, valued at approximately $987,060.36. The trade was a 102.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew K. Silvernail purchased 50,000 shares of International Paper stock in a transaction dated Friday, January 30th. The stock was bought at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the completion of the transaction, the chief executive officer owned 50,000 shares of the company’s stock, valued at $1,999,000. This represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 76,092 shares of company stock worth $2,999,064. 0.35% of the stock is owned by company insiders.

Institutional Trading of International Paper

Several institutional investors and hedge funds have recently bought and sold shares of IP. MCF Advisors LLC increased its stake in International Paper by 36.7% in the 4th quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 229 shares during the last quarter. Rothschild Investment LLC raised its stake in International Paper by 4.2% in the fourth quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company’s stock valued at $236,000 after purchasing an additional 242 shares in the last quarter. International Private Wealth Advisors LLC lifted its position in International Paper by 4.1% during the fourth quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 243 shares during the last quarter. Independent Advisor Alliance grew its stake in International Paper by 3.3% in the 4th quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company’s stock worth $305,000 after buying an additional 244 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in International Paper by 1.7% in the 3rd quarter. Evergreen Capital Management LLC now owns 15,856 shares of the basic materials company’s stock worth $736,000 after buying an additional 263 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.